Jewel-Osco stores will be sold to a consortium of investors led by Cerberus Capital Management, Jewel's parent Supervalu said Thursday.
The deal, valued at $3.3 billion, also includes the Albertsons, Acme, and Shaw stores.
The announcement ends months of speculation that all or parts of the troubled grocery chain would be sold to New York-based Cerberus, an investment firm. Supervalu acquired Jewel in 2006 as part of a larger, complex acquisition of the Albertsons company.
Supervalu also reported earnings of $16 million, or 8 cents per share, in the third quarter ended on Dec. 1, compared with a year-earlier loss of $750 million, or $3.54 per share.
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Us couponer's could have told them how to increase their sales! DUH!
I never ever shopped at Meijer before I started couponing a few years ago. I always shopped at Jewel. With the increase of the amount of people couponing and Jewel doing all they can to keep us away, it's no wonder. Meijer is very coupon friendly.